Re: US Presidential candidate announces plan to back the US dollar with Bitcoin
I feel is too late to back up a currency like the dollar, because to make from that a reality they would have to first pay the Debt they have, and that amount is a joke. We are talking about a $101,515,840,000,000 dollars. And how can you back up a currency with an astronomical debt like that, Is just impossible. And that debt will stay there forever, it will only grow up because the debt is the perfect tool to make from money an infinite element. And the reality is that the world doesn't have the balls to make them pay that debt. So, it's easy for them to increase it each year.
The US Dollar is on a slow path of decline. Either the US pays its debt, or goes on default. This last one is not an option, due to the chaos it would create worldwide. The idea of backing the USD with BTC is only a way to gather the support of crypto industry players and individuals alike. It will "stabilize" the USD, but it won't solve the debt problem.
I'm yet to see if Mr. Kennedy Jr. will gather widespread support from US voters on Election Day. Especially when there are other presidential candidates with a stronger agenda and political experience. Unless most people in the US are Bitcoin supporters/users, don't count on Robert F. Kennedy Jr. being elected as President of the United States anytime soon. At least, we're beginning to see pro-crypto candidates in the country and abroad. Who knows if we're closer to "hyperbitcoinization" than we've previously imagined? Just my thoughts
